Opus Group Named Contractor for 165 KSF Build-to-Suit Office HQ in Colorado
- Apr 09, 2012
By Barbra Murray, Contributing Editor
While the real estate industry is improving, large-scale build-to-suit assignments don’t pop up every day. However, one recently came along for Opus Development Corp., which just won the bid for the 165,000-square-foot build-to-suit contract for TriZetto Group Inc.’s new $110 million global headquarters in metropolitan Denver.
The contract came together with the assistance of commercial real estate services firm Cornish & Carey Commercial Newmark Knight Frank and Cassidy Turley Fuller Real Estate. Opus will be responsible for developing, designing and constructing TriZetto’s new home within the 1,700-acre Meridian International Business Park in Douglas County, approximately 10 miles south of Denver.
In addition to the four-story office building, the property will offer 740 parking spaces to accommodate TriZetto’s growing staff. The healthcare IT company, a resident of the Denver area for the last two years, expects to add a minimum of 750 new positions over the next five years.
Two other divisions under the Opus Group umbrella are participating in the project. Opus Design Build L.L.C. is charged with overseeing construction activity, while Opus AE Group is on board as the architect and engineer of record. With the assistance of an estimated 500 workers, construction is on schedule to reach completion early next year, and TriZetto will occupy the facility under a contract with property owner and manager Lexington Realty Trust.
Certainly, with the steep competition among states to lure companies, TriZetto most likely could have found attractive incentive packages elsewhere, but there were more than a few good reasons to stay put.
“TriZetto recognized Colorado’s highly-educated workforce, strong healthcare and technology industry sector, expansive pool of local talent from area colleges and accessible location for visiting clients,” Gov. John Hickenlooper said. In Douglas County in particular, construction activity appears to be on the upswing. According to a report by Cassidy Turley Fuller, the county is fast becoming a magnet for healthcare and medical industry users. Centura Health is building two facilities in the Meadows at Castle Rock and Parker Adventist Hospital is wrapping up an expansion project.